People at the top spend less money than those at the bottom, so when you have redistribution toward the top, aggregate demand goes down. Unless you intervene, you’re going to have a weak economy unless something else happens.
Joseph Eugene Stiglitz (born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support for the Georgist public finance theory and for his critical view of the management of globalization, of laissez-faire economists (whom he calls free-market fundamentalists'), and of international institutions such as the International Monetary Fund and the World Bank.
Unfortunately, a lot people still don’t understand queer culture.
You know, I’m a big comic book fan. As a kid I used to collect them until there was a
Quality without results is pointless. Results without quality is boring.
My quest these days is to find my long lost inner child, but I’m afraid if I do, I’ll end
The perfect ham and cheese sandwich is all about focusing on quality ingredients and about simple techniques. You start with
Unfortunately, a lot people still don’t understand …– Karamo Brown
You know, I’m a big comic book fan…– Tim Matheson
Quality without results is pointless…– Johan Cruyff
My quest these days is to find my long lost inner …– Kenny Loggins
The perfect ham and cheese sandwich is all about …– Daniel Humm
Thus, anybody who follows this nature and gives …– Xun Kuang
During my own gap year…– Simon Hoggart
We must do our part to make ourselves visible to …– Karamo Brown
A friend of mine – one of the rugby girlfriends – …– Chloe Madeley
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